Department of the Treasury June 22, 2012 – Federal Register Recent Federal Regulation Documents
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Open Meeting of the President's Advisory Council on Financial Capability
The President's Advisory Council on Financial Capability (``Council'') will convene for an open meeting on July 16, 2012, at the Department of Treasury, 1500 Pennsylvania Avenue NW., Washington DC, beginning at 10 a.m. Eastern Time. The meeting will be open to the public. The Council will: (1) Receive reports from the Council's subcommittees (Underserved and Community Empowerment, Research and Evaluation, Partnerships, and Youth) on their progress; and (2) hear from a panel of experts about research in financial capability.
Calculation of Maximum Obligation Limitation
The Federal Deposit Insurance Corporation (the ``FDIC'') and the Departmental Offices of the Department of the Treasury (the ``Treasury'') (collectively, the ``Agencies'') are issuing the final rule (``Final Rule'') to implement applicable provisions of the Dodd- Frank Wall Street Reform and Consumer Protection Act (the ``Dodd-Frank Act'').\1\ The Final Rule governs the calculation of the maximum obligation limitation (``MOL''), as specified in the Dodd-Frank Act. The MOL limits the aggregate amount of outstanding obligations that the FDIC may issue or incur in connection with the orderly liquidation of a covered financial company.
Community Development Financial Institutions Fund
This NOFA is issued in connection with the FY 2012 funding round of the BEA Program. The BEA Program is administered by the Community Development Financial Institutions (CDFI) Fund, a wholly owned government corporation within the Department of the Treasury. The BEA Program encourages Insured Depository Institutions to increase their levels of loans, investments, services, and technical assistance within Distressed Communities, and financial assistance to CDFIs through grants, stock purchases, loans, deposits, and other forms of financial and technical assistance, during a specified period.
Treatment of Overall Foreign and Domestic Losses
This document contains final regulations with respect to a provision of the Internal Revenue Code (Code) relating to the recapture of overall domestic losses that was enacted as part of the American Jobs Creation Act of 2004 (AJCA). These regulations provide guidance regarding these changes, as well as updated guidance with respect to overall foreign losses and separate limitation losses, and affect individuals and corporations claiming foreign tax credits.
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